Struck it Rich: Congratulations you and your partner have been awarded 500,000 for selling the copyright to your invention. Through the next two weeks you and your partner must use a spreadsheet to organize, analyze, and report your income and expenses. You must: v PAY TAXES: you will need a column for the NC rate which is 4,072.50 PLUS 7.75% of the amount over 60,000. v For Federal taxes you will pay 31% of the total. v Invest at least 15% of the after taxes total into the stock market. To create a stock portfolio you will need to have a separate sheet on your Excel (google docs) file. You will need the following headings:
Ø Company Name Ø Stock Symbol Ø Purchase Date Ø Purchase Price Ø No. of Shares Ø Initial Investment Ø Sell Date: (Last date of project) Ø Sell Price Ø Total Value at Selling Ø Gain/Loss Ø % of profit (take the gain/loss amount and divide by Initial investment)
v Donate 2% of your net after taxes to a non-profit organization. You and your partner will need to create a 2 paragraph double spaced report about the organization. You will need to include a detailed description of the organization and a summary paragraph of how your investment will make the world a better place. How are YOU contributing world?
v Struck it Rich: v Purchase a house. After you calculate how much money you have left you will need to purchase a house. Choose one that is located in New Hanover, Harnett, Brunswick, or Cumberland County. To purchase a house you must use a Realtor’s website. You may either use www.realtor.com , www.remax.com, or Google search for any of the major Realtors in YOUR area. Include the purchase price in your Budget spreadsheet. To verify you will need a Word Document that has the MLS number (that is the number issued to the realtor when the house goes on the market for sale). It would be fine if you copied and pasted the entire listing into the word document so we can see a picture of your house as well, just make sure you have the link cited correctly.
On your Budget spreadsheet you will include a column for groceries (average about $200 per month per person living in the household)
You will need to include Utilities>> let’s average $25 per sq foot of your home.
You will also need to purchase a car. Find the vehicle on either www.kbb.com, www.autotrader.com, or www.cars.com . Include the description of the vehicle a Word Document and include the link to the website.
NOTE Pay attention to your stocks DAILY, monitor them so that if you start losing money you can sell your stock and pick another company to invest in. We have different Spring Breaks so you will need to discuss who will do what part of the project before this FRIDAY. Good communications skills is a must! MS. Kyle and I will be participating as well.
Look in the post by kthomas and it gives you the directions about the website Smartstocks.com for the stocks and keeping track of your money.
Congratulations you and your partner have been awarded 500,000 for selling the copyright to your invention.
Through the next two weeks you and your partner must use a spreadsheet to organize, analyze, and report your income and expenses.
You must:
v PAY TAXES: you will need a column for the NC rate which is 4,072.50 PLUS 7.75% of the amount over 60,000.
v For Federal taxes you will pay 31% of the total.
v Invest at least 15% of the after taxes total into the stock market.
To create a stock portfolio you will need to have a separate sheet on your Excel (google docs) file. You will need the following headings:
Ø Company Name
Ø Stock Symbol
Ø Purchase Date
Ø Purchase Price
Ø No. of Shares
Ø Initial Investment
Ø Sell Date: (Last date of project)
Ø Sell Price
Ø Total Value at Selling
Ø Gain/Loss
Ø % of profit (take the gain/loss amount and divide by Initial investment)
v Donate 2% of your net after taxes to a non-profit organization. You and your partner will need to create a 2 paragraph double spaced report about the organization. You will need to include a detailed description of the organization and a summary paragraph of how your investment will make the world a better place. How are YOU contributing world?
v Struck it Rich:
v Purchase a house. After you calculate how much money you have left you will need to purchase a house. Choose one that is located in New Hanover, Harnett, Brunswick, or Cumberland County. To purchase a house you must use a Realtor’s website. You may either use www.realtor.com , www.remax.com, or Google search for any of the major Realtors in YOUR area. Include the purchase price in your Budget spreadsheet. To verify you will need a Word Document that has the MLS number (that is the number issued to the realtor when the house goes on the market for sale). It would be fine if you copied and pasted the entire listing into the word document so we can see a picture of your house as well, just make sure you have the link cited correctly.
On your Budget spreadsheet you will include a column for groceries (average about $200 per month per person living in the household)
You will need to include Utilities>> let’s average $25 per sq foot of your home.
You will also need to purchase a car. Find the vehicle on either www.kbb.com, www.autotrader.com, or www.cars.com . Include the description of the vehicle a Word Document and include the link to the website.
NOTE
Pay attention to your stocks DAILY, monitor them so that if you start losing money you can sell your stock and pick another company to invest in.
We have different Spring Breaks so you will need to discuss who will do what part of the project before this FRIDAY. Good communications skills is a must!
MS. Kyle and I will be participating as well.
Look in the post by kthomas and it gives you the directions about the website Smartstocks.com for the stocks and keeping track of your money.